How to transfer your cash ISA

People often switch ISA managers. Some do it because they’re looking for a better interest rate. Others do it to bring their accounts under one roof, with one manager.

However, keep in mind that not all ISAs accept transfers in.

These are the main government rules on transferring a cash ISA.

If you're 18 or over, you can open multiple cash ISAs every year. As long as you do not deposit more than your ISA allowance you can split your allowance between cash ISAs with different ISA managers. As the Nationwide cash ISA is a portfolio ISA you can hold more than one Nationwide cash ISA product within your portfolio. You can then split your allowance between the products.

If you were 16 or 17 on 5 April 2024 and do not have a cash ISA, some ISA managers will allow you to open a single cash ISA. If you already have a cash ISA, you can still pay money into it, as long as you don’t exceed your annual ISA allowance. You can also transfer your cash ISA or reinvest it into a new cash ISA when it matures. Different ISA managers will have different rules about how you transfer your cash ISA.

We’ll tell you how to do this when you apply. Don’t just withdraw your money from an ISA if you want to transfer it. If you do this, your money will lose its tax-free status.

If you’re transferring from one ISA manager to another during a tax year, it won’t affect your annual ISA allowance. Just be sure to follow the correct transfer process.

Check that:

• the new ISA you want to open accepts transfers in
• there’s no charge if you transfer your current ISA – for example, if it’s a fixed-term ISA that charges for moving the money or for switching managers
• you are allowed to transfer money from all of your existing ISAs, or if you’re limited to only moving money in your current ‘active’ ISA

If you’re transferring out of a Nationwide cash ISA, make sure you’re happy to transfer all the money you’ve paid in to all your Nationwide cash ISA(s) in the current tax year. 

Check the terms and conditions for your account.

If you don't already have a cash ISA with Nationwide, you will be able to make the transfer when opening a new cash ISA with us.

If your ISA allows transfers, you can make the transfer at any Nationwide branch.

You can transfer all or some of the money from your cash ISA. But we cannot accept partial transfers of the money you have paid into your cash ISA(s) during this current tax year. You will need to transfer all the money you have paid into your cash ISA(s) in this current tax year.

You can also choose to close the ISA you are transferring from and have any unpaid interest transferred to your Nationwide cash ISA.

If your ISA has a sort code and account number, you cannot currently transfer money from an ISA you have with another provider. We are working on allowing our customers to do this. But in the meantime, you might still see this option in our mobile banking app.

You also cannot transfer your cash ISA into a Nationwide Fixed Term ISA Maturity account.

To transfer your cash ISA to us, you’ll need:

• your Nationwide cash ISA account number
• your National Insurance number
• the account details of the cash ISA you're transferring to us.

It will take up to 15 working days for us to complete the transfer of your cash ISA to a Nationwide cash ISA once we've got your request. It may take longer if your ISA funds are subject to a notice period.

If you have more than one cash ISA product with us, and need to transfer funds between them, more information can be found on How to manage your cash ISA.

You’ll need to speak to your new manager, who will be able to arrange the transfer for you.

If they ask for your Nationwide ISA details, use these:

• Account number: 33333334
• Sort code: 070093
• Your roll/reference number

Your roll/reference number looks like this: 1234/123456789. You can find it:

• printed on the inside cover of your passbook
• when you log in to the Internet Bank
• or for Fixed Rate ISAs, on the front of the certificate you received when you opened your account.

We'll complete your transfer to another ISA manager within 5 working days of receiving your request.

If you have less than £100,000 in your Nationwide ISA, we'll transfer your money electronically. We'll do this through the Faster Payments service once we've closed your account. Your new manager will receive your money by the end of the next working day.

If you have £100,000 or more in your Nationwide ISA, we'll transfer your money by cheque. We'll post the cheque to your new manager once we've closed your account. They'll backdate the cheque so you don't lose out on any interest.

You can transfer an active cash ISA to a new manager. If you decide to transfer, you’ll need to transfer all the money you’ve paid into your Nationwide cash ISA(s) during the current tax year.

If you’ve paid into multiple Nationwide cash ISAs you’ll need to transfer all the money you have paid in during the current tax year.

If you transfer your current-year ISA, we will tell your new ISA manager how much more you can pay in during the tax year.

If you hold a matured Child Trust Fund with another provider, you can transfer it to a Nationwide cash ISA and keep the tax-free status on your savings.

To transfer a matured Child Trust Fund to a Nationwide cash ISA, you’ll need to follow the ISA transfer process. This applies even if the matured Child Trust Fund is not an ISA.

If your Nationwide cash ISA product accepts transfers in, you can transfer in your matured Child Trust Fund by visiting your nearest branch.

If you'd like to transfer into a new cash ISA product, you can apply to open one online.

We don't recommend that you do this, otherwise your money will lose its tax-free status. Make sure you transfer properly through your new ISA manager instead.

If you transfer your current-year ISA to us, your current ISA manager will tell us how much more you can deposit within the tax year. You will need to transfer over all the money you have paid into your other cash ISA(s) during the current tax year.

You won’t be able to pay back any money that you withdraw after the transfer without it counting towards your annual ISA allowance.

When you apply for a Nationwide cash ISA, you may have the option to transfer in a cash ISA you have with another manager.

You can only transfer when you apply online if your current ISA manager is listed here. Keep in mind, this list could change at any time.

If you're looking to close your ISA early, you may be charged a fee. Check the terms and conditions for your account to find out.

How you close and move money from your ISA can depend on a number of things, including:

• the type of ISA you have
• if you're closing your ISA early or it's about to mature
• the account you want to move your money to.

Find out how to close your ISA.